Mark Cuban Says Banks are Leaving SMBs Out in the Cold

Mark Cuban says banks are not acting quickly enough to extend credit to small businesses through the Small Business Administration’s Paycheck Protection Program; “Banks are playing themselves,” Cuban said to CNBC. “They’re being banks, and they’re trying to determine if the credits are good, and that’s leading to a lot of small businesses that are left out in the cold.”; Cuban hopes the second round of capital, which is currently being considered, provides clearer rules so banks can get the money out the door faster; Cuban also discussed the issue many venture backed companies are having with investors who own more than 20 percent; “If a small company has an investor with more than a 20% interest that owns other companies, then those companies are being put to the back of the line, which has really hurt my ‘Shark Tank’ companies,” he said. Business Insider

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